Crypto proponents on X wasted no time pointing out the hypocrisy of JP Morgan CEO Jamie Dimon’s recent remarks to the United States Banking Committee about Bitcoin and crypto.
JPMorgan CEO Jamie Dimon is being hauled over the hot coals on crypto X (Twitter) after claiming Bitcoin (BTC) and cryptocurrency’s “only true use case” is to facilitate crime.
“The only true use case for it is criminals, drug traffickers, money laundering, tax avoidance,” Dimon said in a hearing before the United States Banking Committee on Dec. 5. “If I were the government, I’d close it down.”
But crypto pundits quickly pointed out the seeming hypocrisy in Dimon’s statements, highlighting that JPMorgan is the second largest penalized bank, having paid $39.3 billion in fines across 272 violations since 2000, according to Good Jobs First’s violation tracker.